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Vicon Holdings Limited
(3878)
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Rating:61Neutral
Price Target:
HK$0.20
▼(-15.42% Downside)
Action:Reiterated
Date:08/04/26
The score is primarily supported by low financial leverage and improved profitability with strong recent cash generation. Offsetting this, 2026 showed weakening operating momentum (revenue decline and margin compression), while technical indicators are neutral-to-soft and valuation (P/E ~24.8) appears elevated given thin margins and recent top-line contraction.
Positive Factors
Very low financial leverage
A near-zero debt-to-equity position reduces financial risk and preserves flexibility for working capital, investment, and business-cycle downturns. Because the balance sheet relies primarily on equity rather than borrowing, the company has less exposure to interest costs and refinancing pressure over the coming quarters.
Negative Factors
Recent revenue contraction
A revenue decline can weaken operating leverage and reduce the scale benefits available to an engineering and construction business. If contraction persists, it may limit the company’s ability to spread fixed costs, sustain investment, and rebuild earnings momentum over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low financial leverage
A near-zero debt-to-equity position reduces financial risk and preserves flexibility for working capital, investment, and business-cycle downturns. Because the balance sheet relies primarily on equity rather than borrowing, the company has less exposure to interest costs and refinancing pressure over the coming quarters.
Read all positive factors
Vicon Holdings Limited (3878) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$93.04M
Dividend YieldN/A
Average Volume (3M)157.33K
Price to Earnings (P/E)20.4
Beta (1Y)-0.02
Revenue Growth-22.11%
EPS Growth-6.93%
CountryHK
Employees21
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)<0.01
Shares Outstanding479,600,000
10 Day Avg. Volume119,600
30 Day Avg. Volume157,333
Financial Highlights & Ratios
PEG Ratio-3.47
Price to Book (P/B)0.39
Price to Sales (P/S)0.46
P/FCF Ratio1.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Vicon Holdings Limited Business Overview & Revenue Model
Company Description
Vicon Holdings Limited operates as an investment holding entity primarily offering foundation and related construction services across Hong Kong. The company undertakes a diverse range of foundation projects, encompassing tasks such as piling, exc...
Vicon Holdings Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 236.72M | 303.92M | 486.64M | 417.04M | 156.59M |
| Gross Profit | 14.20M | 20.62M | 43.95M | 43.58M | 33.16M |
| EBITDA | 10.17M | 15.56M | 17.43M | 13.12M | -5.10M |
| Net Income | 4.50M | 4.83M | 8.27M | 2.39M | -24.56M |
Balance Sheet | |||||
| Total Assets | 332.32M | 324.41M | 308.42M | 338.93M | 335.19M |
| Cash, Cash Equivalents and Short-Term Investments | 148.59M | 60.41M | 39.48M | 18.63M | 25.48M |
| Total Debt | 85.00K | 8.50M | 8.78M | 11.02M | 23.29M |
| Total Liabilities | 56.49M | 53.09M | 41.93M | 80.71M | 79.36M |
| Stockholders Equity | 275.82M | 271.32M | 266.49M | 258.22M | 255.83M |
Cash Flow | |||||
| Free Cash Flow | 90.19M | 8.03M | 38.50M | -17.77M | 29.14M |
| Operating Cash Flow | 92.87M | 10.75M | 39.72M | -14.51M | 34.44M |
| Investing Cash Flow | -74.71M | -14.04M | -19.83M | 22.89M | 30.29M |
| Financing Cash Flow | -8.43M | -1.92M | -2.89M | -15.22M | -53.87M |
Vicon Holdings Limited Technical Analysis
Negative
0.24
Price Trends
0.22
Negative
0.23
Negative
0.23
Negative
Market Momentum
>-0.01
Negative
38.55
Neutral
54.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3878, the sentiment is Negative. The current price of 0.24 is above the 20-day moving average (MA) of 0.20, above the 50-day MA of 0.22, and above the 200-day MA of 0.23, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 38.55 is Neutral, neither overbought nor oversold. The STOCH value of 54.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3878.
Vicon Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | HK$92.40M | 1.57 | 10.81% | 11.37% | -5.20% | 420.03% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | HK$93.04M | 20.43 | 1.63% | ― | -22.11% | -6.93% | |
51 Neutral | HK$101.87M | -1.16 | -4.67% | 6.67% | -10.46% | -582.88% | |
46 Neutral | HK$162.40M | -1.06 | 848.01% | 1.96% | -25.29% | 7.74% | |
45 Neutral | HK$120.05M | -1.34 | -26.71% | ― | -51.29% | 43.87% |
* Industrials Sector Average
HK:3878
Vicon Holdings Limited
0.20
<0.01
3.16%
HK:1413
Kwong Luen Engineering Holdings Limited
0.23
-0.19
-44.81%
HK:1459
Jujiang Construction Group Co., Ltd. Class H
0.19
-0.16
-44.86%
HK:3822
Sam Woo Construction Group Ltd.
1.06
0.14
15.93%
HK:6816
Prosper Construction Holdings Limited
0.20
-0.08
-27.86%
Vicon Holdings Limited Corporate Events
Vicon Holdings Shareholders Approve All AGM Resolutions and Capital Mandates
Sep 10, 2026
Vicon Holdings Limited reported that all resolutions proposed at its annual general meeting on 10 September 2026 were approved by shareholders through poll voting, with 159,113,085 shares cast in favour and none against each item. The AGM decision...
Vicon Holdings Sets September AGM and Seeks Fresh Share Issue Mandate
Jul 30, 2026
Vicon Holdings Limited has called an annual general meeting to be held in Hong Kong on 10 September 2026 to present and adopt its audited consolidated financial statements and reports for the year ended 31 March 2026. Shareholders will also vote o...
Vicon Holdings Sees Revenue Drop but Maintains Profit in FY2026
Jun 26, 2026
Vicon Holdings reported a decline in revenue to HK$236.7 million for the year ended 31 March 2026, down from HK$303.9 million a year earlier, reflecting softer project activity or fewer high-value contracts. Gross profit also fell to HK$14.2 milli...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.